Mongolian Economy and Finance

Mongolia ended a four-year moratorium on issuing mineral exploration licenses, boosting opportunities for mining companies as the nation seeks to spur investment.

Mongolia is preparing to overturn last year’s cancellation of more than 100 mining licenses following a corruption investigation, in a further attempt to revive investor confidence in the mineral rich nation.

Kincora Copper Limited announced that the Mongolian Ministry of Mining has proposed a “win-win solution” for all stakeholders to resolve disputes relating to the revocation of 106 mineral exploration licenses in late 2013.

Mongolia-focused copper and gold miner Kincora Copper (CVE:KCC) said it is confident two of the licences revoked by the Mongolian government last year will be returned as a proposal to resolve the issue will be presented to the parliament during the ongoing session.

Mongolia is preparing to overturn last year’s cancellation of 106 mining licenses in a further attempt to revive investor confidence in the mineral rich nation, according to one company stripped of its permit.

Kincora Copper Limited: Proposed Win-Win Outcome for the 106-License Issue

(Reuters) - Mongolia plans to put a resolution to parliament that will end a dispute between 11 foreign license holders and the government over the invalidation of 106 mineral exploration licenses, one of the companies affected, Kincora Copper, said on Monday.

Mongolia’s government said it intends to submit two bills to parliament that could stimulate its mining sector and stoke investment.

A moratorium on new mining exploration licences in Mongolia could be lifted during the spring session of parliament, Mongolia's mines minister said, as it works to lure back foreign investment after a slump last year.

TORONTO – A moratorium on new mining exploration licenses in Mongolia could be lifted during the spring session of Parliament, Mongolia's Mines Minister said, as the Asian country works to lure back foreign investment after a slump last year.

Criminal legal proceedings against former government officials in Mongolia have resulted in the cancellation of 106 mineral exploration licenses in the country.

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/06/13 -- Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) has today received official notification from the Mineral Resources Authority of Mongolia ("MRAM") advising that 106 mineral exploration licenses, including 15075X (Tourmaline Hills) and 15076X (North Fox) wholly owned by Kincora's subsidiary company Golden Grouse LLC, have been revoked.

Junior copper and gold explorer Kincora ( CVE:KCC ) revealed it has had two exploration licences revoked by the Mongolian authorities but its flagship Bronze Fox is in good standing.

Kincora Copper Limited (the "Company", "Kincora") has today received official notification from the Mineral Resources Authority of Mongolia ("MRAM") advising that 106 mineral exploration licenses, including 15075X (Tourmaline Hills) and 15076X (North Fox) wholly owned by Kincora's subsidiary company Golden Grouse LLC, have been revoked.

Sentosa Mining (ASX: SEO) has exercised an option to acquire a copper-gold project located within Mongolia’s South Gobi Arc which hosts Rio Tinto ’s (ASX: RIO) world class Oyu Tolgoi porphyry copper gold deposits.

In June, another mining operation permit for work at the Aduunchuluun Coal Mine in Bayantumen soum of Dornod Province was provided to Mongoliin Alt.

The Former head of the Mineral Resources Authority, D.Batkhuyag was sentenced for abuse power for issuing 106 mining licenses illegally by the primary and appeal courts.

There has always been controversies in Mongolia regarding the licenses held by Entrée Gold Inc. surrounding Oyu Tolgoi mining area.

A CANADIAN gold and copper explorer part-owned by Rio Tinto has had two mining permits suspended by the Mongolian government, signalling a possible deepening in a dispute with the emerging Asian nation over the huge Oyu Tolgoi mining development.

Mongolia has revoked the licenses for a key section of Rio Tinto's ( RIO ) Oyu Tolgoi copper-gold mine.